RE:RE:Revised Reserve Estimates Are Not ExpensiveI am convinced that Turenne is the right man for the job at this point in time. He has accomplished a great deal on a shoestring budget, while this company basically went into hibernation.
But Turenne is an accountant and so everything he does must make financial sense in terms of adding shareholder value. Not sure what the price of nickel needs to be to put a decent sized share-cap back under FPX. But that is probably what it will take quite before a non-dilutive share offering might be possible. So probably no more drilling for now.
WIthout a decent sharecap from a significant increase in SP, we would need another major to do a JV. Patience is often difficult when timing is uncertain, but I have no doubt that FPX has the potential to catch investors off-guard. Such is the payout profile of any highly leveraged option.
macaw wrote: I don't know how serious it is but we just had the highest close Aug 2014. I see nickel prices continue to trend up from here. It would be nice to see a break through $7 before the summer.
AlternativeView wrote: I would not be surprised to see an upward revision to the size of the ore body at Baptiste, based on last summers drilling. This is a relatively simple thing to do.
Not so much with a revised PEA. That would cost quite a bit more. Not sure how high the price of nickel needs to go before FPX begins to get serious again, but at $6+ per pound I think we are getting close. At $7 nickel Baptiste should be a slam dunk.